Thailand's largest convenience-store operator CP All Plc plans to bring the Bellinee’s coffee brand to the Cambodian market early next year, the Cambodian Embassy in Bangkok said via Facebook.
CP All cited the market potential and favourable environment for the franchise business in Cambodia in its announcement, the embassy said.
The plan was unveiled during a meeting at the embassy on Wednesday between Cambodian ambassador to Thailand Ouk Sorphorn and Charahts Likitkunawong, adviser to CP All CEO and managing director Tanin Buranamanit.
Charahts boasted of the Bellinee’s brand’s popularity in Thailand and lauded Cambodia’s sound investment policies and robust economic growth.
Keen on the plan, Sorphorn highlighted Cambodia’s high degree of appeal for tourists and the rapid influx of international investors.
At the same time, he asked Bellinee’s Bake & Brew to study the market, potential competition and strategic locations in Cambodia.
An official at the embassy told The Post on condition of anonymity that CP All has signed a deal with a local company for the franchise, which was scheduled to open in Cambodia this year.
But Covid-19 put those plans on the back burner, he said. The company now expects the inauguration to take place sometime early next year.
CP All manages a broad, diverse portfolio of operations such as commercial centres, supermarkets, financial services, education and food.
Its more well-known establishments include 7-Eleven, All Cafe, eXta, CP Retailink, 24 Shopping, Caffe Muan Chon, Thai Smart Cared, the higher education institute Panyapiwat Institute of Management and Makro.
Cambodia Chamber of Commerce (CCC) vice-president Lim Heng told The Post on Thursday that investors’ interest in bringing well-known foreign brands to Cambodia reflects investor confidence in the Kingdom in terms of political stability and economic viability.
This, he said, is because investors study a country’s investment potential, domestic purchasing power and the macroeconomic situation at length before introducing well-known brands.
He said the CCC regularly advertises at international events to entice more famous brands to open shop in Cambodia.
“Having more franchise companies is an indication of how well-off a country is, in both political and economic terms,” Heng said, adding that the presence of franchises in turn draws in larger clusters of investors.
Internationally renowned brands are highly valued for their quality, from their management, products, work standards and hygiene, he said.